SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

May 03, 2020

Notes to Financial Statements [Abstract]

17. SUPPLEMENTAL CASH FLOW INFORMATION

Noncash Investing and Financing Transactions

The Company completed the Australia acquisition during the second quarter of 2019. Included in the total acquisition consideration was certain noncash consideration, including the issuance to key members of Gazal and PVH Australia management of approximately 6% of the outstanding shares in the subsidiary of the Company that holds 100% of the ownership interests in the Australia business, for which the Company recognized a $26.2 million liability on the date of the acquisition. The Company recorded a gain of $3.7 million during the thirteen weeks ended May 3, 2020 in connection with the remeasurement of the liability in the first quarter of 2020, which resulted in a reduction to the liability. The liability was $29.2 million as of May 3, 2020 based on exchange rates in effect on that date. Please see Note 4, “Acquisitions and Divestitures,” for further discussion.

Omitted from net proceeds from short-term borrowings in the Company’s Consolidated Statement of Cash Flows for the thirteen weeks ended May 3, 2020 were $0.4 million of debt issuance costs incurred in connection with the Company’s 2020 facility that were accrued as of May 3, 2020.

Omitted from proceeds from 3 5/8 senior notes, net of related fees in the Company’s Consolidated Statement of Cash Flows for the thirteen weeks ended May 3, 2020 were $0.7 million of debt issuance costs incurred in connection with the issuance of €175.0 million principal amount of 3 5/8% senior notes due 2024 that were accrued as of May 3, 2020.

Omitted from proceeds from 2019 facilities, net of related fees in the Company’s Consolidated Statement of Cash Flows for the thirteen weeks ended May 5, 2019 was $4.0 million of debt issuance costs incurred in connection with the refinancing of its senior credit facilities that were accrued as of May 5, 2019.

The Company recorded a loss of $1.7 million during the thirteen weeks ended May 5, 2019 to write-off previously capitalized debt issuance costs in connection with the refinancing of its senior credit facilities.

Omitted from acquisition of treasury shares in the Company’s Consolidated Statement of Cash Flows for the thirteen weeks ended May 5, 2019 was $2.0 million of shares repurchased under the stock repurchase program for which the trades occurred but remained unsettled as of the end of the respective period.

Lease Transactions

Supplemental cash flow information related to leases was as follows:


	Thirteen Weeks Ended
(In millions)	5/3/20		5/5/19
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	81.5	$	116.0
Operating cash flows from finance leases	0.1		0.1
Financing cash flows from finance leases	1.3		1.5
Non-cash transactions:
Right-of-use assets obtained in exchange for new operating lease liabilities	89.0		85.1
Right-of-use assets obtained in exchange for new finance lease liabilities	1.7		0.9